Business > CASE STUDY > ACC 330 Final Project Three Formal Letter to Client A.Evans.docx ACC 330 ACC 330 Fina (All)

ACC 330 Final Project Three Formal Letter to Client A.Evans.docx ACC 330 ACC 330 Fina

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ACC 330 Final Project Three Formal Letter to Client A.Evans.docx ACC 330 ACC 330 Final Project Three Formal Letter to Client OH 45040 44307 Daniel and Freida Butler 625 Oak Street Corbin,... KY 40701 Dear Mr. and Mrs. Butler: Thank you for giving me the opportunity to answer your questions for the preparation of your 2019 tax year. Please bear in mind that if anything should change during the year that it could have an impact on the answers I provided. Let me first begin with your question regarding lowering your tax liability. Deductions reduce your taxable income. This will result in a lower tax liability. Applying tax credits will also lower your tax liability even more. Some deductions to consider for the 2019 tax year include claiming your dependents student loan interest and tuition expenses. Another deduction would be your qualifying travel and transportation expenses that are related to your jobs. Finally, you could also deduct part of the contributions you have made to any retirement plans. Some of the credits that I noticed you did not claim in 2018 that you could include in 2019 are the American Opportunity credit and the Lifetime Learning credit as long as you do not claim education expenses deductions, an energy credit for any qualifying energy efficient equipment installed in your home, and a retirement plan contribution credit. Both you and Freida qualify for retirement plans. The retirement plans that are available to you both include a 401(k) plan and an Individual Retirement Account (IRA). Your employer™. . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . .. .. . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . [Show More]

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